Can I find liability only insurance for my 355?...

Any insurer will provide you with liability only... Thats the most expensive part of the policy...

I am puzzled that your ferrari is paid for, but you can't afford the insurance... For a reasonable driver, its less than $500 a year...

Bo

 

I don't think it's not that he can't afford it, just choosing to exercise his right to opt out when the law doesn't mandate full coverage. I personally wouldn't skimp out on full coverage as I live in the crazy city of Los Angeles. If I lived outside the city in the back woods with minimal population, no way I would pay extra for insurance.

Allstate offers Liability Mr Cladd

Joe

 

I pay $58 a year for comp alone on my 95 F335s. $411/year for full coverage.

 

Geico.

 

My F355 is one of the few vehicles on which I carry comprehensive and collision. Oddly enough, it's the least expensive vehicle (liability wise) on my policy (which includes a 10 year old Dodge minivan). I originally had liability only, then inquired about the cost of adding comprehensive and collision (since I actually drive it regularly, the possibility of hail damage, theft, etc. increases) and it was low enough that it made sense to be fully covered. I hear you, though. I carry liability only on all but two of my vehicles.

 

I don't understand why you wouldn't carry full coverage on a car that's worth between $40-70k.
That's a lot of coin for me to loose.

 

I am sorry and do not mean to be that guy bashing anyone online but this is by far one of most unintelligent questions I've read...

guess it always proves money doesn't buy intelligence.

 

Thats still pretty cheap...

Why not just cancel the collision component for the months you don't drive the car? I do that during the winter...

I would cancel comprehensive on my daily driver before I did it on the ferrari. Its more an issue of how much it costs to fix, rather than how often I drive it. If some one dents my daily driver, It wouldn't bother me much. Its cheap to fix...

 

What?

I have 5 cars too, two F cars, and a Porsche in the mix. I have no problem getting what ever coverage I want on them. I change from full coverage to comp only in winter. If I wanted liability only on any of the cars it is no problem. In most states the minimum required coverage is UIM plus liability. Most insurance agents I have talked to generally recommend liability (plus the UIM) for cars worth less that a few $K. There is not problem getting minimum coverage (liability only) for many people that is what they have. You need to look at a few more INS companies.

 

Agree.

Insurance is supposed to be for catastrophic loss. In theory, a Ferrari is a luxury item, a "toy". Therefore, if something were to happen to the car, the loss, while emotionally horrible, should not be a financial difficulty (i.e. a catastrophic loss). If it is, you spent too much on your toy

 

I thought Chartis, Hagerty and such were for declared value and you can't pick a-la-carte insurance items? I know when I got a quote from Chartis it was all inclusive for a vehicle declared value.

 

I think it depends on what state you are in.

But I have USAA and I have storage insurance on the cars when I am not driving them.

But if you are driving them I think it is up to you state what you must carry on your car.

There are minimums for everything. Just because you don't care about your car I'm pretty sure you must be insured to cover someone else's car if you hit them or if its your fault.

 

Could I survive if I lost $50k? Sure I could... Would I want to lose $50k? Hell no...
I guess it all depends on ones level of wealth.

 

Yeah but the likelihood of some moron not paying attention while texting, emailing, chatting on phone, shaving, putting on make-up, messing with kids/dogs etc. etc. is more than nil - hence the need to protect IMHO one of the most beautiful rolling works of art on the road at any price.

Cheers